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20121205
20121205
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not successfully negotiated a single new trade agreement during the first four years of the obama administration. and this administration has not yet asked congress for a renewal of trade promotion authority despite the fact that that t.p.a. expired over five years ago. the cost of inaction on trade is high because today we live in a global economy where american producers rely on access to foreign markets. more than 95% of global consumers live outside the united states. consider that in 1960 exports accounted for only 3.6% of u.s. g.d.p. today exports account for 12.5% of our g.d.p. exports of u.s. goods and services support over 10 million american jobs. if we do not aggressively pursue new market opening agreements on behalf of american workers, we will see new export opportunities go to foreign businesses and foreign workers. so while i'm pleased that we're considering pntr today, i hope that president obama in his second term will recognize the potential for increased trade opportunities through a more aggressive trade agenda. i look forward to the president signing this legislation into l
of hard-fought negotiations under both republican and democratic administrations, president obama finalized the terms of russia's ascension to the w.t.o. on november 10, 2011. russia was invited to join the organization on december 16, 2011, and officially joined in august of this year. mr. president, i ask unanimous consent that the remarks on pntr be placed within whatever the time agreement ultimately is. the presiding officer: without objection. mr. hatch: and i'd like my remarks not to be interrupted. the presiding officer: without objection. mr. hatch: now that russia is a member of the w.t.o., for our workers to benefit, congress really has no choice but to extend permanent normal relations to russia through appeal of the -- repeal of the application of the jackson-vanik amendment. russia is now a member of the w.t.o., but they are under no obligation to extend the economic benefits of their membership to the united states unless we have normal trade relations. simply put, if congress does not act, our workers and exporters will be at a serious disadvantage in trying to exp
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